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UK power price cap will cut inflation peak by 5 points, Truss says


UK power price cap will cut inflation peak by 5 points, Truss says By Reuters

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Economy 1 hour ago (Sep 08, 2022 12:11)

© Reuters. FILE PHOTO: New British Prime Minister Liz Truss delivers a speech outside Number 10 Downing Street, in London, Britain September 6, 2022. REUTERS/Hannah McKay/

LONDON (Reuters) – A new price cap on power bills will cut the peak of inflation by as much as a five percentage points, Britain’s new Prime Minister Liz Truss said on Thursday.

“This intervention is expected to curb inflation by up to five percentage points, bringing a reduction in the cost of servicing government debt,” Truss told parliament.

($1 = 0.8675 pounds)

UK power price cap will cut inflation peak by 5 points, Truss says

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